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Prices Spike On Continued Delays In Norway

LNG

European LNG prices rose 8.3% on Tuesday to EUR 37.35, close to the intraday high of EUR 37.60. It was little changed through most of the session until in the afternoon it rose sharply on news that the recovery in flows from Norway’s large Troll field was delayed due to processing problems. Gassco AS, the operator, said that it should occur though in the coming days but capacity will be lower by the weekend than originally planned. The market is currently vulnerable to supply disruptions heading into the northern hemisphere winter, while industrial action in Australia continues with a hearing scheduled for Friday. North Asian prices remain steady.

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